Highland Capital Management LLC reduced its stake in shares of CVS Health Corporation (NYSE:CVS) by 15.7% during the second quarter, Holdings Channel reports. The firm owned 110,426 shares of the pharmacy operator’s stock after selling 20,637 shares during the period. Highland Capital Management LLC’s holdings in CVS Health Corporation were worth $8,885,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of CVS Health Corporation during the fourth quarter valued at about $800,355,000. LSV Asset Management raised its position in shares of CVS Health Corporation by 44.2% in the first quarter. LSV Asset Management now owns 4,579,916 shares of the pharmacy operator’s stock valued at $359,523,000 after buying an additional 1,404,384 shares during the period. Macquarie Group Ltd. raised its position in shares of CVS Health Corporation by 16.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,526,280 shares of the pharmacy operator’s stock valued at $751,719,000 after buying an additional 1,359,100 shares during the period. NN Investment Partners Holdings N.V. raised its position in shares of CVS Health Corporation by 141.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,427,210 shares of the pharmacy operator’s stock valued at $114,832,000 after buying an additional 835,476 shares during the period. Finally, Swiss National Bank raised its position in shares of CVS Health Corporation by 26.9% in the first quarter. Swiss National Bank now owns 3,826,410 shares of the pharmacy operator’s stock valued at $300,373,000 after buying an additional 811,100 shares during the period. 82.05% of the stock is currently owned by institutional investors.

Shares of CVS Health Corporation (NYSE CVS) traded down 0.80% during mid-day trading on Friday, reaching $77.97. 6,059,744 shares of the company’s stock traded hands. The company has a market cap of $79.44 billion, a price-to-earnings ratio of 16.26 and a beta of 0.91. The company has a 50 day moving average of $78.75 and a 200 day moving average of $79.09. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $98.44.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s payout ratio is 41.67%.

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Several research analysts have recently issued reports on CVS shares. Vetr raised shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 target price on the stock in a research note on Wednesday, May 24th. Tigress Financial started coverage on shares of CVS Health Corporation in a research note on Thursday, April 27th. They set a “buy” rating on the stock. Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the stock a “buy” rating in a research note on Tuesday, June 27th. Guggenheim reissued a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. Finally, Needham & Company LLC started coverage on shares of CVS Health Corporation in a research note on Tuesday, June 27th. They set a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $92.20.

In other CVS Health Corporation news, CFO David M. Denton sold 230,510 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the transaction, the chief financial officer now directly owns 176,983 shares in the company, valued at approximately $14,158,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Helena Foulkes sold 20,333 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $80.00, for a total value of $1,626,640.00. Following the transaction, the executive vice president now owns 59,301 shares in the company, valued at $4,744,080. The disclosure for this sale can be found here. Insiders have sold a total of 271,175 shares of company stock worth $21,632,597 over the last 90 days. Company insiders own 0.61% of the company’s stock.

CVS Health Corporation Company Profile

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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Institutional Ownership by Quarter for CVS Health Corporation (NYSE:CVS)

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